The UK Angel CoFund recently completed its first investments, with a total of £7.2m committed to five small and medium sized enterprises (SMEs).
Launched in November 2011, the Government backed, £50m Angel CoFund invests alongside syndicates of business angels into high potential SMEs from across England.
Supported by a grant from the Government’s Regional Growth Fund, the vehicle aims to boost the quality and quantity of business angel investing in England to support long-term, high quality jobs in growing companies.
The first investments, which ranged from £360k to £3.6m, were made in Phase Vision, style-passport.com, PlayJam, Future Drinks, and Enval.
Established by a consortium of business angel organisations, including Braveheart Investment Group plc, Hotspur Capital Partners Limited, Octopus Investments Limited and The Oxfordshire Investment Opportunity Network Limited, and Capital for Enterprise Limited, the fund expects to invest at least £70m alongside business angels in the next 10 years.